NIPCO Plc’s ownership stake in Savannah Energy Plc has increased above the key 30 per cent threshold. This follows the completion of Savannah’s on-market share buyback programme, despite NIPCO making no additional share purchases. In a statement on Thursday, Savannah Energy announced that it had repurchased 32.1 million ordinary shares at 6.8 pence per share, …
Nigeria’s leading agro-industrial companies, Presco Plc and Okomu Oil Palm Company Plc, ended the 2025 financial year with record earnings. This underscores the resilience of the oil palm sector despite a challenging operating environment. A review of the companies’ unaudited financial statements shows that both producers delivered strong revenue and profit growth in 2025, supported …
Private sector business activity in Nigeria deteriorated in January 2026, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Nigeria. The report shows that the index fell sharply to 49.7 in January, down from 53.5 in December for the first time since 2014, ending a 13-month streak of expansion and signalling …
The World Bank has described Nigeria as a global example of steady and credible reform leadership, citing the country’s consistency in implementing economic changes despite ongoing challenges. The Bank’s Managing Director of Operations, Anna Bjerde, remarked during a meeting on Tuesday with President Bola Tinubu and Vice President Kashim Shettima at the State House in …
The Pension Fund Operators Association of Nigeria (PenOp) has urged Retirement Savings Account (RSA) holders to update their records following the launch of the data recapture portal. The association made the call in a statement seen by Pinnacle Daily on Wednesday. It stated, "Pension Fund Administrators (PFAs) have commenced the rollout of PENCAP, the Data …
Nigerian stock market closed January 2026 on a strong note, as gains in 20 key stocks, spanning heavyweight blue chips and smaller, high-volatility names, combined to lift overall market performance on the Nigerian Exchange Limited (NGX). A review of stock market data for January shows price appreciation in 10 high-cap and 10 cherry-picking stocks that …
Africa Finance Corporation (AFC) said it acted as co-financial adviser on the successful issuance of the inaugural tranche of bonds under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The corporation disclosed this in a statement issued on Tuesday, February 3. According to AFC, the first tranche of the bond, valued …
Nigeria processed close to 11 billion electronic payment transactions in 2024, more than double the 5 billion transactions recorded in 2022, according to the Central Bank of Nigeria (CBN). The apex bank disclosed this in its report titled 'Shaping the Future of Fintech in Nigeria: Innovation, Inclusion and Integrity', released on Monday. The report shows …
Access Bank Plc has named Ifeyinwa Osime as its new board chairman. The appointment follows the retirement of Paul Usoro on January 29, 2026, after he completed his regulatory tenure. The bank announced this in a statement on Monday by its company secretary, Sunday Ekwochi. “Access Holdings Plc is pleased to announce that the Board …
Conoil Plc posted a steep drop in profit in 2025 as rising borrowing costs, liquidity pressure, and mounting debt erased gains from a larger asset base. A review of its unaudited financial statement for the year ended December 31, 2025 revealed that the company’s profit before tax plunged by 77 per cent to ₦2.53 billion …
